News

A U.S. District Court judge has ordered Aon and Marsh insurance brokerages to negotiate a settlement for a lawsuit that alleges three former employees of Aon stole trade secrets and clients from their former employer when they joined Marsh.

Universal Insurance Holdings of Ft. Lauderdale has posted a net loss of $2.8 million for the fourth quarter of 2009.

The Congressional Budget Office, in a report on the Troubled Asset Relief Program, said American International Group has failed to pay quarterly cash dividends due on $40 billion in preferred company stock.

Arthur J. Gallagher & Co. announced the acquisition of Winn & Co. Insurance Brokers, Inc. in Hollister, California. Financial terms were not disclosed.

Insurance representatives said they may get a deal for Senate financial services reform legislation with no financial assessments and little regulatory impact for high-asset insurers.

A Congressional Budget Office study reported that the health care reform legislation the House is expected to vote on by Sunday would cost $940 billion over 10 years.